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XRP Classic has informed the community of the swap process as it prepares to switch to its own blockchain.
XRP Classic is happy to announce the latest update before moving to its own blockchain network. The project is fully transitioning to the XRP Ledger network! In a very short time, the platform will be fully operational on the XRP Ledger network. They stated that they would announce how they would perform the swap process shortly after completing the integration process between them and the Centralized Exchanges (CEXs).
How XRP Classic will Handle the Process
Evan James said, "We will complete transactions through CEXs that we list because it is safer and easier for our valued community, so we will be protected from SCAM swap websites that are commonly encountered in such swap transactions. We will complete the swapping process entirely through CEX to maximize the security level.”
Why XRP Ledger Network?
In the last quarter before switching to their own network, they will move to the XRP Ledger network due to the fact that transfer fees are lower and for reliability, and the main benefit here will be to fully implement ReFi logic on the Blockchain. This will renew confidence all over the world as they complete a lot of CEX listings and, in the process, complete their Blockchain.
Will the XRP Reward Continue?
The distribution of Xrp rewards will not continue. A 5% "Reflections" tax was imposed on taxes to distribute XRP rewards. They stated that if they reset this rate, they would bring the tax rate to the lowest level. However, current taxes and charges on CEXs will continue.
When will they switch to their own Blockchain?
The XRP Ledger network is almost ready, with new roadmaps up to date on the website. Users can learn about the entire process by reviewing the new roadmap.
In summary, in the third quarter of 2023, XRP Classic will have definitely switched to its own eco-friendly blockchains. The success and progress of the team is commendable.
Evan James added, "We thank you all for your trust in the whole process."
Why they didn't switch directly to their own Blockchain
The team is keen on avoiding any security vulnerabilities in its blockchain software; hence, it needed time to do thorough software tests. This achievement will renew the confidence of the community and help the project achieve higher market relevance, as well as contribute to the development of the XRP Ledger network, invite the world to be environmentally friendly, and at the same time, uphold their credibility in the cryptocurrency market.
Where will trade continue after the network change?
Firstly, the XRP Ledger, and then they will switch to their own networks, so they will continue from CEXs after a while, so they are in contact with all other CEXs. They proudly stated that they aimed to successfully complete most of the top 30 CEX in the first place.
They stated that blockchain networks need to go through a detailed software process to make them work faster and more stable than most blockchains on the market and with very low commission fees. At the same time, they collaborate a lot behind the scenes.
Xrp Classic Team sincerely thanks all its investors who trust in this process and reminds users that they are ushering in a new era of environmental friendliness!
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


Chainlink Launches Staking v0.2 With Exclusive Migration Window for Early Adopters

Accoriding to the Chainlink team, the upgrade, known as Chainlink Staking V0.2, brings a range of enhanced features and opportunities for community members and node operators.
Chainlink Unveils Staking V2
Chainlink has introduced the latest upgrade to its native staking protocol with the launch of Chainlink Staking v0.2.
As per a press release, existing v0.2 stakers can migrate their staked LINK and accrued rewards starting Nov. 28 until Dec. 6. This nine-day Priority Migration phase reportedly guarantees a seamless transition for early participants.
#Chainlink Staking v0.2 is officially live on mainnet ⬡
— Chainlink (@chainlink) November 28, 2023
Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins.
🧵https://t.co/pcFAVXct3L
As of December 7 at 12PM ET, LINK token holders meeting predefined eligibility criteria gain exclusive access to staking during a four-day period before General Access. From December 11 at 12PM ET, the opportunity extends to all, provided the pool limit has not been reached.
Community Stakers can engage with a minimum stake of 1 LINK and a maximum of 15,000 LINK during both Early and General Access, though entry is not guaranteed due to the capped pool size. Node Operator Stakers, on the other hand, can stake between 1,000 LINK and a maximum of 75,000 LINK.
The capped 45,000,000 LINK pool at the launch of Staking v0.2 includes an allotment of 40,875,000 LINK for community members. The remaining allocation caters to Chainlink node operators currently serving Chainlink Data Feeds.
According to Chainlink's recent statement, the introduction of Staking v0.2 is in line with Chainlink Economics 2.0, emphasizing the cryptoeconomic security of the Chainlink Network and bringing new improvements and features.
Last December, Chainlink launched staking v0.1. In the first phase of Chainlink Staking, a staking pool was established to secure the ETH/USD Data Feed on the Ethereum mainnet. Its initial cap was 25 million $LINK, 2.5% of the total supply.
$LINK is trading at $14.7, up 4.37% in the last seven days, with a marketcap of $8.2 billion.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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